Swedbank AB Sells 6,515 Shares of Ferguson plc (NASDAQ:FERG)

Swedbank AB trimmed its stake in Ferguson plc (NASDAQ:FERG) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,250 shares of the company’s stock after selling 6,515 shares during the period. Swedbank AB’s holdings in Ferguson were worth $19,830,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC bought a new stake in Ferguson in the third quarter valued at about $27,000. True Wealth Design LLC increased its stake in shares of Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Ferguson in the 3rd quarter valued at about $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Ferguson in the third quarter valued at approximately $39,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Ferguson during the third quarter worth $40,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

NASDAQ:FERG opened at $181.21 on Friday. The company has a market cap of $36.23 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.69 and a beta of 1.24. The firm’s fifty day moving average price is $187.04 and its two-hundred day moving average price is $197.29. Ferguson plc has a one year low of $167.27 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio is 39.86%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FERG. Barclays dropped their price target on shares of Ferguson from $234.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Citigroup dropped their price target on Ferguson from $221.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Robert W. Baird reduced their target price on shares of Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Ferguson from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.10.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.